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washington works, someone who has these relationships, someone who can get on the phone and get the president of the united states to pardon, you know, your fugitive client, that's a very, very marketable commodity. i mean, if you see -- if you are seen as someone who knows how this town works, someone who is a usual suspect in this town, you can dine out for years. that's why no one leaves. >> announcer: funding is provided by -- carnegie corporation of new york, celebrating 100 years of philanthropy, and committed to doing real and permanent good in the world. the kohlberg foundation. independent production fund, with support from the partridge foundation, a john and polly guth charitable fund. the clements foundation. park foundation, dedicated to heightening public awareness of critical issues. the herb alpert foundation, supporting organizations whose mission is to promote compassion and creativity in our society. the bernard and audre rapoport foundation. the john d. and catherine t. macarthur foundation, committed to building a more just, verdant, and peaceful world. more information a
company" -- 50 years after the historic march on washington, we go back to the scene with john lewis, who spoke that day half a century ago. where you're standing now, looking out there. that's all the crowd. >> it was good to be in the presence of lincoln. and i feel honored to have an opportunity to come here almost 50 years later. >> announcer: funding is provided by -- carnegie corporation of new york, celebrating 100 years of philanthropy, and committed to doing real and permanent good in the world. the kohlberg foundation. independent production fund, with support from the partridge foundation, a john and polly guth charitable fund. the clements foundation. park foundation, dedicated to heightening public awareness of critical issues. the herb alpert foundation, supporting organizations whose mission is to promote compassion and creativity in our society. the bernard and audre rapoport foundation. the john d. and catherine t. macarthur foundation, committed to building a more just, verdant, and peaceful world. more information at macfound.org. anne gumowitz. the betsy and
anniversary of the march on washington and the legacy of martin luther king, junior how radicalo forget this was, how kennedys white house tried to get the andnizers to call it off, how the majority of americans had an unfavorable view of it. the peaceful protest seemed impossible to fathom. violence.d of it is universally acknowledged as one of the seminal events of the 20th century as they stood to demand those jobs and freedom. epic tome is considered the gold standard for that era. all this is coming up right now. >> and by contributions to your pbs station from viewers like you. inc. you. thank you. >> joining us now to kick off these three nights of this historicon anniversary is the author of "the king years." fromr branch joins us washington. it is good to have you back on the program. >> i have been. talking and getting the message out. let me start with the obvious questions. how does the march on washington ?it into this narrative >> it comes in 1963, when the sees politicsly by the throat because of the demonstrations in birmingham earlier that spring culminating ofthe citiz
georgia. recently, he and i returned to the national mall in washington to remember that day in 1963 and the march that changed america. >> people were all the way down. and you just saw hundreds and thousands of individuals. i'm john lewis, and i was the youngest speaker. ten of us spoke. i spoke number six. dr. king spoke number ten. and out of the ten people that spoke that day, i'm the only one still around. >> congratulations. >> what's that? >> congratulations. >> thank you very much. >> it was a great moment in american life. >> you were his friend? >> yeah. i got to know dr. king. i met him in 1958 when i was 18. but i first heard of him when i was 15 years old in the 10th grade. we worked together. we marched together. we got arrested together in selma, alabama. >> have you ever heard this story before? >> yes, i have. >> you have? >> i watched it on tv. >> you did? >> so you know about the sit-ins? the freedom ride? >> yeah. >> people marching for the right to vote? you know, i was on the march from selma to montgomery. i was beaten. on march 7th, 1965, a group of us, about
shocker. the washington post company sells its number and publishing assets to amazon.com founder. the deal capped the day of big news in print, online and in television. >> looser lending. new reports say banks are lowering standards for businesses, consumer and home buyers. does it signal a return to the bad old days of too easy credit? >> home grown, walmart pledges to buy american made goods. how it could affect manufacturing. we kick off a special series called made in america. >> it was a stunning late day capper today to a day of major news affecting the newspapers you read, the websites you visit, the tv networks you watch, and the cable systems you may subscribe to. amazon.com founder and ceo is buying the publishing business of the washington post company. which includes the fames newspaper for $250 million. the post long run by members of the eugene meyer and graham families reached the peak of its fame for tough reporting, during the watergate era. baso says, i understand the critical role the post plays in washington, d.c., and our nation, and the post's values will n
targets, long-term political hot potatoes. diana olick joins us from washington with more on what all this might mean. >> reporter: suzy, it should come as no surprise mortgage is front and center, as interest rates are rising, credit is the last barrier to full housing recovery. >> our housing market is beginning to heal. >> reporter: president obama returned to arizona, one of the hardest hit states in the housing crash four years after using this dessert backdrop. >> we got to turn the badpage o the bubble and bust. we need a housing system durable and fair and rewards responsibility for generations to come. >> reporter: it's reforming the nation's 10 trillion dollar mortgage market making it easier for home buyers and putting capital at the center of housing finance ask pulling government out. that means a gradual wind down of giants fannie mae and freddy mac, which together with the fha back over 90% of new loans. >> i believe our housing system should operate where there's a limited government role and pry vent lending should be the backbone of the housing market. >> reporter: t
cannot even get traction in washington talking about poverty. president barack obama and the members of congress, both the left and the right -- everybody has to it knowledge that they spend so much more time in washington talking about the middle class, they are obsessed, but we cannot get a conversation about poverty. why is that? >> you said it. it is a political sort of poll tested way to try to get that extra are centage point in terms of public opinion. that priorgs political leaders did, and certainly our civil rights leaders did, was they went against public opinion. they really said this is the morally right inc. to do, and we need to move the country in that direction. unfortunately, that type of leadership we don't see today. this president campaigned on raising the minimum wage. at one point, he was for raising it to even a higher level than he has suggested of late that he wants to raise it to. why is he negotiating against himself? why can't politicians understand that americans are hurting, that we need a living wage, not a minimum wage? >> that is really an important
>>> from washington, the mclaughlin group, the american original, for over three decades, the sharpest minds, best sources, hardest talk. >> issue one, labor pains. much of president obama's focus has been on the middle class and quote/unquote, better bargain. in terms of education, living standards and most notably, jobs. president obama chose an amazon.com warehouse as his venue. amazon announced it was adding 5,000 new workers to its company. >> should be doing everything we can to create more jobs with good pay. >> how good are the jobs at amazon warehouses? many are temporary and conditions are harsh. the pay is $11 an hour. >> the white house was asked prior to the visit, whether these were the kinds of jobs the president wanted to create. the director of the white house national economic council, responded for the president, quote, we should not denigrate any job or any work. people work at different jobs throughout their lives. families piece together, sometimes two, to have a degree of middle class security. >> was an amazon warehouse venue the proper chase? >> p
in atlanta. she has been in washington for all the events and joins us tonight from washington. good to have you on this program. sense of how you have felt throughout these honoring the event and your father. you always want the person back with you. in that vein it has been exciting, because it speaks to of thenitude contribution he made that we are here looking at and talking about that time that was so and able to andbrate the progress recognize we have so much to do. thoughtsat are your about your mother and your for thist being around celebration? and foremost my father talked about his four little children. there are only three of us left. that void is very much felt. i say all the time martin luther king is different from the martin luther king today, and i to my mother, whose tireless efforts to keep his legacy alive, and perhaps we celebrating,n be because it was 1983, and every five years there was an so iersary remembrance, think about her, because we are here in many respects, and she cannot forget the tremendous contributions, and we cannot forget there is so much work to .o th
in the civil rights movment." he joins us from washington. taylor, good to have you on the program. >> i wish i could be with you. tavis: i wish we could have you in the studio. you have spent basically your life working on this icon a trilogy, and then you end up with a book that basically distills it all down. why did you do this? >> teachers have told me for many years that while they love the story, 800-page books are a little much to assign college students, let alone high school, and that weighed on me. the other thing is that it has been 50 years since the crest of the movement, and america still does not really appreciate how much we benefit from that. there are still many people hiding from the great benefits of the 1960's, so i wanted to do something to crystallize that. the lessons from the people in the civil rights era. tavis: what lessons do you think that the american public, by and large, as we approach the anniversary -- we will talk about that in a moment -- what do they still seem blind to? >> george wallace pledged segregation forever. this country was segregated. all throug
on mr. summer's preemptively, which is a standard washington exercise that i don't like. >> reporter: so tyler, obviously, this is very personal for the president. he has a relationship with larry summers. he didn't like to see the piling on. that might explain leaks we saw over the past couple week complaining that larry summers might be the front runner for the job, the president insisting, though, today he hasn't picked a candidate yet. >> he talked a little bit today about the implantation of obamacare, healthcare reform and the possibility that a government shut down might be used as a weapon in that funding battle. give us some thoughts on that, am amin. >> reporter: he said if you implement something as big as obamacare, as he calls it now and expects there will be glitches here. nonetheless, he said he doesn't like the politics on the republican side threatening a government shut down. he tried to position it as republicans trying to shut down the government to block 30 million americans from getting access to healthcare that, he said, is simply a bad idea. >> thank you very much
the buyers will come. i'm diana olick in washington. >> what these these bulletins from housing, the consumer and job market mean for stocks? we turn to jim paulson, the chief investment officer at wells capital investment. good to have you. >> good to see you, suzy. >> a lot of negativity today in the markets. what is your take? >> i think a lot of it, suzy, we're digesting a number of big things after a huge market move. that's one of the things we're digesting. we made such a big move off last fall fall lows. in audition, we've had just a dramatic change in long-term interest rates. you're talking about mortgage rates going up, the ten-year treasury hitting 280 today. it was 160 not that long ago. of course, we'll face feds tapering or slowing down quantitative easing soon. these are big events and i think it led to a little market indigestion if you will. the market is in a trading range for the rest of the year, but i think we'll get through it and as we come out the other end, maybe at the end of this year, i think we'll be stronger for it. we'll find out that both the economy and the s
>>> from washington, "the mclaughlin group," the american original. for over three decades, the sharpest minds, best sources, hardest talk. >> issue one. dream on. 50 years ago this month a baptist minister named martin luther king delivered what many believe to be the most inspirational speech in american oratory. dr. king's 1963 address came against the backdrop of the birmingham, alabama march against anti-black racism. that toxic combination of legal segregation and second-class status for african-american citizens. the brilliance offing king's nonviolent protest movement was his combination of lofty, almost utopia ideals matched to concrete political goals. king supporters marched for the right to sit at a lunch counter, to swim in a de- segregated municipal pool, to pick any seat on a bus, or to attend an integrated school. that was then. this is now. reverend king would be amazed by the transformation over the past 50 years. today america has its first black president. >> i barack hussein obama do solemnly swear -- >> and african americans do routinely hold top posts
not necessarily bring it about. >> with more on the syrian crisis, how it's playing out in washington, and what might happen next, we turn to john harwood. a lot of words out today. what more can we gleam about the timing of a possible strike against syria? basically, what happens now? >> they haven't signalled the timing, susiusie, but it looks e a strong likelihood we'll strike, sooner rather than later. the president leaves for st. petersburg on tuesday, the meeting at the g 20 and congress comes back on the 9th of september. i would be surprised if the strike has not happened before both of those things take place. >> and what do you expect the president to hear from the g 20 people if it hasn't happened by that time. you have a lot of the community they talked about today that has been very silent throughout this, john? >> they have been silent. the british house of commons voted down an authorization of force yesterday. the president got a call from prime minister of france and has the idea that the french are supporting the possibility of a u.s. action. i just got off the phone with a co
that are bundled up and sold as securities. diana olick joins us from washington. dianna, rules, more rules, we keep getting them from washington. tell us about the details. >> reporter: i just wa to clarify these are proposed new rules, and they haven't passed anything. n they are still putting them out for comment. this is the second go round they have done with the rules. they are about a qualified residential mortgage, that is which mortgages from the banks would be exempt from risk retention under dodd frank and what they have done is loosened up. the first proposal two years ago said the mortgages had to have 20% down. now they are saying they will take that out. they heard from the banking industry, the banking industry does not like that. they are lining the rules with the cfpb that have been put into place this year. so when we say new rules, they are copies of rules in place. >> what do they mean for investors and by the way, home buyers as well? >> the new rules going into place, which a lot of banks are using, will make it more safe for investors and owners. they will take a lot of
of washington, sort of, the government reported a nearly $98 billion budget deficit for the month of july. that means uncle sam is now on track to post the lowest annual budget shortfall in four years. the reasons for the shrinking deficit, slow but steady economic growth, higher taxes, less government spending and the turnaround in the bailed out washington run mortgage giants, fannie mae and freddie mac. >>> this will be a big week for fresh data about the u.s. economy. those reports will be closely watched not only by investors but by the policy makers at the federal reserve, as they decide if and when to begin tapering their economic stimulus program. steve tells us what's on this week's calendar, and which reports are most important to fed chairman ben bernanke and company. >> good evening. a big week for economic data, that will go a long way toward figuring out whether the economy is strong enough for the federal reserve to ease back on the support its giving. we'll get a read on the consumer with july retail sales tomorrow morning, and economists are looking for a modest but still
the globe. >> setting up for a big fall. attention also turns to washington where a showdown loomed over the debt ceiling and whether the u.s. will be able to pay it's bills come mid october. >>> securing your requirement. whether you're 25, 35, 45 or 55, we'll tell you how much you should be saving now to make sure you do not out live your money. that and more tonight on "nightly business report" for tuesday, august the 27th. >>> good evening everyone. i'm susie gharib here with my colleague bill griffith. investors here in u.s. and around the world dumped stocks worried about the possibility of the u.s. and allies might take military action against syria over it's use of chemical weapons, so investors moved money to safe havens like gold, oil and treasuries. here is a run down of the numbers by the closing bell. the major stock averages fell 1 to 2% and the dow tumbled 170 points and the nasdaq lost almost 80 and the s&p down 26 points. prices on u.s. treasuries rose with the yield on the ten-year to 2.72%. >>> while mean, gold jumped sharply up $27 to $1,420 an ounce. oil also surged.
. >> the road to reform always leads to washington. and there almost every reform, whether it's the environment or whether it's agriculture or food, hits up against the power of big money to write the laws it wants and influence the politicians it needs. you found that to be the case, didn't you? >> yes. i think that -- you know, i mean, i believe -- and i don't think naively -- that we, americans, should be able to influence how our politicians vote on these issues. that's not happening right now. and the problem with this issue is that you don't always -- it's not so obvious necessarily how a politician is voting when it comes to programs that address food insecurity. >> there was a poll taken, i think in connection with your film, that found the majority of americans actually were surprised to hear that 50 million people don't know where their next meal is coming from. and many of those polled just don't think of hunger as a pressing issue. given your work on this, how do you explain it? >> there's this concept that you can somehow see hunger, that we would know that there are hungry childre
celebrate 50 years this coming august. before king got to washington to deliver this speech, he went to detroit. it was in destroyed he worked it out. he used it as a testing ground. first in detroit. grace lee boggs was in the audience. >> i was an organizer. rex she was an organizer when dr. king came to detroit. 100,000 people. >> 2000 people. tavis: -- 200,000 people. tavis: i am only 48, but your memory is better than mine. >> the alabama christian movement for human rights to boycott merchants during the easter season, and they messed up the economy, so they jailed martin luther king. they turned fire hoses on them, and people saw that all over the and they organized a rally to protest, and only a few people showed up. clegg was an agitator in the black movement. said, we should scare the devil out of the people, so we started organizing. we decided to meet in churches and announce the march. pouring in from all across the state. it electrified the city, and it made a huge difference in the movement. time i get to speak in detroit, i kissed the ground in reference to what this
. for "nightly business report," i'm hampton pearson in washington. >> here to talk more about the fed and economy is david kelly, chief global strategist at jp morgan funds. we come. you heard vince ryan heart say he thinks the fed wants to get out of the stimulus business and begin tapering. i was talking about a half hour ago to a former policy maker who said i don't really think they want to start tapering and probably not until the end of the year at the soonest. what do you think? >> i think they do want to get out of tapering but what they are trying to do is quietly move an elephant out of a room and you can't do that. i was frustrated by the fact they didn't put this timetable, which ben bern fan key announced in june. they didn't put that in the statement so we're wondering are they continuing to remove qes at the end of this year. i think they want to because they have to. people don't talk about enough is the problems they are billing. it's not just status quo. they are adding a trillion dollars a year and those are chickens that will come home to roost. so they do need to
washington post." has really changed the face of, i think the argument, his movie, document will be shown. he now has their ear. it is very unusual. zuckerberg is an elusive guy. doesn't dupeo a lot of this stu. puts the national spotlight. >> the ag industry. fast food industry. construction industry. people would say so self-serving. when you have silicone valley, ph.d.s, silence. it really does change. >> it is ag. and other groups plus. >> now they're all in it kevin mccarthy today in washington. from california. right next to the ceos from silicone valley. >> new brand of politics being born. >> absolutely right. >> let me ask -- is that what is it? or is this a moment in time where all the things have come together to make immigration reform possible. what like they couldn't shift the co-lgs alition to say, clim change. >> we are seeing changes. political changes. not just on, give you another example. same-sex marriage. another place. republican party. starting to see changes. it is sort of an evolutionary process. we just saw this month. in marin county. became the first county republ
>>> from washington the mclaughlin group. the american original. the sharpest minds, best sources, hardest talks. >>> issue one, egypt erupts. >> america wants to be a partner in the egyptian people's pursuit of a better future and we are guided by our national interest in this long standing relationship. but our partnership must also advance the principles that we believe in. and that so many egyptians have sacrificed for these last several years no matter what party or faction they belong to. >> reporter: the egyptian police and security forces launched a coordinated operation to clear the streets of cairo, of tens of thousands of muslim brotherhood protesters who were demanding the return of the ousted president mohammed. it left 46 egyptian police and 525 protesters dead. some 3,700 injured. the crackdown was the second time that the president and his supporters have ignored military ultimatums. the first time that mr. mosey was ousted by the militant after refusing to reconcile the pro-democracy protesters. and this time the supporters openly declared that they would rather d
during a news conference in washington this afternoon, in a clear warner to bashar al assad. >> president obama has made clear to the assad regime, that this international norm cannot be violated without consequences. and there is a reason why no matter what you believe about syria, all people in all nations who believe in the cause of our common humanity must stand up to assure there is accountability for the use of chemical weapons, so that it never happens again. >> the market had been trading higher earlier on merger news and in spite of a sharp drop in july, durable goods orders, but those comments by secretary kerry sent the indexes lower and they did close at the lows of the session, the dow fell by 64 points, ending below 15,000 again. the nasdaq was a fraction of a point lower, the s&p 500 was down 6 points. gold the other way, above $1400 an ounce for the first time since june 7th, when it hit that multiyear low of 1180. >>> the biggest of the merger news, one of the largest deals ever in the drug making industry. amgen, the huge biotech company is paying 10 a$10 and a half bin
will weigh in, as well. i'm hampton pearson in washington. >>> on wall street it looks like nothing can keep stocks down as they notch the sixth winning week in a row. the major averages spent most of today's session flat or in negative territories and they wonder what to make of the numbers and how they might in influence the program. they concluded the numbers didn't mean much or nothing too bad and pushed the averages modestly higher that propelled the dow and s&p 500 to fresh new closing highs. the dow closed out the session 30 points higher extending it's weekly winning streak to six. the nasdaq up 13 and the s&p up two points. >>> more now on the job market and impacts from one of the hardest hit segments of the labor market. teens. the high jobless rate for teenagers is cutting spender power and with parents expected to cut back top retailers are feeling the pinch of the teen unemployment crisis. courtney regan has more. >> reporter: while the unemployment rate dropped slightly in july it's still subburnly high for the entire u.s. labor force. but it's d
, the tide is beginning to turn. for "nightly business report" i'm hampton pearson in washington. >>> still ahead, how the relatively new and fast growing 3 d printing industry is changing the mold of manufacturing and creating opportunities for investors. but first, look how the international markets closed today. >>> yahoo is getting a make over. the company is changing the logo for the first time in two decades and will unveil the redesign next month. for the next 30 days they will showcase 30 different logos on the home page. there you see some of them. the new logo will be modern but fear not that exclamation point part of the name is staying. >>> now to the on going cbs time wanner cable battle where politicians are demanding an end to the blackout. ed markey is asking the fete red communications commission to step in and restart negotiations. he said i believe the public interest would be served best if it's restored at the earliest time so consumers are not long caught in the middle. more than 3 million timewarner customers have been without cbs since friday and they carry a lot of
-term phaseout but we need the plan in place. will it happen? you've been to washington before, guys, right? >> you bet. >>> still ahead, wall street is warming up to ipos again, names like hilton, possibly twitter are getting ready to sale shares to the public. we'll give you a list of other names that should be on your radar. first, let's get a quick check on how the international markets closed today. >>> we begin the market focus tonight with price line and some strong earnings that came out after the market close. the online travel agency said that earnings surged 24% and that's thanks to improved hotel and car rental reservations. international booking growth was also especially strong up 44%. the stock closed at $933 and change in the regular session and then rose as much as 3.5% in after hours. >>> groupon the daily deals website was strong second quarter sales and a 300 million dollar stock buy back. the focus now is on mobile and pushing more into e commerce. shares soared more than 21% to 10. 60. the biggest one-day gain ever. >>> dean foods the country's largest dairy producer c
," i'm hampton pearson in washington. >>> and finally tonight, you may never get rich working for the federal government but may be surprised with the net worth. a run down of the welt thoughest lawmakers. in third place, senator mark warner a democrat from virginia worth more than $88 million, he ran a technology company. michael mccaul whose inlaws run the clear channel communications come pan hee and he's worth $101 million. temperatu topping the list the republican chairman of the house oversight and government reform committee worth $355 million. mostly from his viper car alarm business. >>> and send us a stock that you'd like our market monitor guest to discuss on friday. log on to our website nbr.com. click on the link to submit your question and don't forget to tell us where you're from. and that's "nightly business report" for tonight, i'm susie gharib thanks for watching. >> i'm tyler mathisen. thanks from me, as well. have a great evening, everyone. see you back here tomorrow night. >>> "nightly business report" has been brought to you by. >> sailing through the hea
'm hampton pearson in washington. >>> it's a new month with new records, so now what happens? let's get some answers from michael ryan, chief investment strategist. mike, nice to have you. this has been a phenomenal year for the stock market. are we seeing the second leg of the bull market? what is your outlook? >> i actually think stocks continue to hire. you kind of have this rerating of stocks driven by an absence of talent. not a lot of bad news. a lot of things memting down or blowing up. in the second half we have revenue growth, corporate earnings and improving and the expectations about better growth. we need to see that validated in the second half of the year. >> are you expecting that better growth to kick in or what do you think? >> i think what you will see is i think it was evidenced by economic data. the ism report was encouraging not only in terms of the headline number but if you look at the forward components, that's the most constructive part that the growth over the course of the next couple months will be constructive. i would argue, of usually, tomorrow's employment rep
washington in "training day." she has since gone on to make her mark costarring with an array of actors, from johnny depp to matt damon. she's now costarring with ryan gosling and bradley cooper in an emotionally charged movie called "the place beyond the pines," about fathers, sons, and the consequences of the decisions they make. eva plays a single mom trying the best way she can to navigate a life that didn't exactly turn out the way she'd hoped. let's take a look at a clip from the movie. [clip] tavis: i almost didn't recognize you; you're all glammed up today. >> (laughter) >> you do whatever you need to do. >> what are you going to do? wax i am going to do what i have to do. going to go to school. i am going to take care of jason. i work here. that is what i am doing. that is my life. tavis: i almost didn't recognize you; you're all glammed up today. >> (laughter) tavis: this flick, for those who haven't seen it and will, obviously, you're not playing up all of the glam. >> no, no. actually, that's the beauty of being an actress, is that you hopefully get to have different roles and rea
crime. i'm wondering with what holder announced if there's bipartisan support in washington for something like this? >> we are seeing that. i think -- michael i want to hear your thoughts in the cultural shift here. it was not too long ago that californians and across the country people said throw away the key. people are starting to look at the prison system and some of the injustices which holder called shameful and realizing there are huge inequities and a lot of lives being affect when you talk about throwing away the key on 20-year-old man. a young man who was 23 sentenced to life without parole for the first nonviolent drug offense, $1500 drug deal. serial killers, you know, don't spend that much time in prison. that kind of case is what holder is talking about. >> there's going to be a continuing debate about what actually -- how do you define a low level offender. we didn't hear that from the attorney general and we didn't get a lot of details from him. we expect to hear more from him on that soon. >> while we wait for that we also want to talk about another situatio
and do it fast, not easy to do. >> thanks a lot, john. john harwood reporting from washington. >>> more now on the nation's banks. just today, the federal reserve spelled out new requirements for major banks to go above and beyond regulatory minimums on capital planning levels. a new fed study says most big banks have made progress since the financial crisis on plans to weather another financial shock. some of the stress tests they said run by individual firms may be inadequate. and wants executives to better identify specific risks that their banks face in market downturns. >>> on wall street, it was a milestone kind of day. but not in a good way. for the first time this year, the dow and s&p 500 fell for a fourth consecutive session. it was the first such thing since last year. both indexes have traded in nine of the last 11 trading sessions. the dow today closed at lows of the session. it fell 71 points, to 15010. nasdaq down 13 to 1389. the s&p slid to 16.46. stocks were spooked by the usual suspects, namely hand wringing over what the fed will do next and a pesky rise in interest r
. >>> those western wildfires that have scorched thousands of acres of land from arizona to washington state just got a lot more costly. new estimates in idaho show that the cost of fighting the fires topped $1 billion. 4 wildfires are still raging and uncontained around the country and nearly 18,000 firefighters had been dispatched to fight them. two blazes in idaho near the resort towns of sun valley are currently the top priority. >>> facebook founder mark suc r -- mark zuckerberg wants to bring the internet to everyone. it's to bring access to 2/3rds of the nation. his company is teaming up with nokia and others to lower the cost of internet access and help businesses create ways to drive internet availability. zuckerberg spoke about the idea this morning on cnn. >> we use things like facebook to share news and catch up with friends, but there, they will use it to decide what kind of government they want, get access to healthcare for the first time ever, connect with family hundreds of miles away they haven't seen in decades. getting access to the internet is a really big deal. i think
is declining. for "nightly business report," i'm hampton pearson in washington. >> the wages of many average workers haven't grown but a different story with chief executives and now federal regulators will propose a role to require companies to disclose how much they earn showing the gap between their salaries and those of the average rank. marry thompson has more. [ applause ] >> reporter: after president obama signed dodd frank into law the srkcc will require companie to disclose the ceo's pay to the pay of the workers. brandon reese notes the average making $12 and a quarter million last year a ceo now makes 350 times more than the average worker. >> that ratio is up from 42 times to one 30 years ago. so dramatic inequality and that's hurting employee moral and productivity and leading to increased turnover and that's what this disclosure rule is meant to fix. >> reporter: reese claims the ratio gives director whose determine a ceo's pay a invaluable tool that lessons the focus on what a ceo makes relative to other ceos and relative to the employees. the soon to be proposed rule appears
business report," i'm hampton pearson in washington. >>> this housing slow down is for real. she's senior housing analyst and joins us tonight. megan, thanks for joining us. >> thanks for having me. >> one report usually does not make a trend but this has gotten your attention, hasn't it? >> it has and it something we're hearing about and seeing in numbers today. there will be numbers next week, pending home sales, apples to apples apples equivalent that we saw today. things are starting to slow down in the housing market, and that's natural. i dodn't think the housing markt is broken, just not growing at the speed it was last year. >> so if you're in the market, buying or saling a home, what should you do? if you're a buyer, should you lock in a deal now and not wait for prices to go down any more and vice versa if you're a seller? >> i don't think you'll see the big jump in mortgage rates so not another 100 basis increase that we saw, but i wouldn't expect anything to go down from these levels significantly. so don't wait around and think well, mortgage rates will go down back to where
next time for a honoringion with -- the 50th anniversary of the march on washington. that is next time. we will see you then. >> there's a saying that dr. king had, and he said, "there's always a right time to do the right thing." i just try to live my life every day by doing the right thing. we know that we're only about halfway to completely eliminate hunger, and we have a lot of work to do. and walmart committed $2 billion to fighting hunger in the u.s. as we work together, we can stamp hunger out. >> and by contributions to your pbs station from viewers like you. thank you. >> be more. pbs. >>> a new approach could get more of oakland's african-american boys graduating high school instead of dying young. >> if you had not received the kind of support as a by that you are providing to these african-american boys at this school where would you be today? >> i'd be in san quentin, or dead. >> black men are teaching and mentoring black boys in hopes of shifting the odds toward success and survival. >> we're trying to make transformations. if you look at the statistics in oakland, we're
'm hampton pearson in washington. >>> now even with the economy growing and stocks inching higher, the possibility of a u.s. led attack on syria over its use of chemical weapons continues to hang over the market. in the united kingdom lawmakers were voting this evening to authorize to use british troops or weaponry against syrian military targets. earlier today prime minister today said david cameron said it was legal and just for his country to take action against syria. >> we must not let the sector of previous mistakes paralyze our ability to stand up for what is right. we must not be so afraid of doing anything that we end up doing nothing. let me repeat again, there will be no action without a further vote in this house of commons but on this issue, britain should not stand aside. >> meanwhile on wall street, investors were relieved the prospect of u.s. military action against syria is not imminent so stocks got a lift from that encouraging gdp number we told you about, and the dip in first time jobless claims. also helping, verizon, it was the biggest gainer in the dow, up m
an opinion about the trouble we're in. the blame game is at fever pitch in washington, where obstinate republicans and hapless democrats once again play kick-the-can with the problems we face. you wish they would just stop and listen to richard wolff. an attentive and systematic observer of capitalism and democracy, he taught economics for 25 years at the university of massachusetts and has published books and dvds such as "democracy at work," "occupy the economy," and "capitalism hits the fan: the global economic meltdown and what to do about it." he's now visiting professor at the new school university here in new york city where he's teaching a special course on the financial crash. welcome, richard wolff. >> thank you, bill. >> last night, i watched for the second time the popular lecture that is on this dvd, "capitalism hits the fan." tell us why you say capitalism has hit the fan. >> well, the classic defense of capitalism as a system from much of its history has been, okay, it has this or that flaw. but it quote, unquote, "delivers the goods.'" >> yeah, for most everybody. >> ri
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